6. Explain the major drivers for development and deployment of new and renewable energy in India. (Not more than 150 words)

Points to Remember: Energy security, environmental concerns, economic growth, technological advancements, government policies.

Introduction: India’s energy demand is rapidly growing, driven by its expanding economy and population. Meeting this demand sustainably requires a significant shift towards renewable energy sources. This transition is propelled by several key drivers.

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Body:

Energy Security: India faces energy security challenges due to its reliance on fossil fuels, particularly imported oil. Renewable energy sources offer diversification and reduce dependence on volatile global markets.
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Environmental Concerns: Air pollution and climate change are major concerns in India. Renewable energy significantly reduces greenhouse gas emissions compared to fossil fuels, contributing to a cleaner environment.
Economic Growth: The renewable energy sector creates jobs in manufacturing, installation, and maintenance, stimulating economic growth and attracting foreign investment. Decreased reliance on fossil fuel imports also improves the balance of payments.
Technological Advancements: Costs of renewable energy technologies, particularly solar and wind, have drastically fallen, making them increasingly competitive with fossil fuels. Technological innovation continues to improve efficiency and reduce costs further.
Government Policies: The Indian government has implemented various policies and incentives, including subsidies, tax benefits, and renewable purchase obligations, to promote the adoption of renewable energy.

Conclusion: The development and deployment of renewable energy in India are driven by a confluence of factors: energy security needs, environmental imperatives, economic opportunities, technological progress, and supportive government policies. Continued investment in research, infrastructure, and policy reforms will be crucial to achieving India’s ambitious renewable energy targets and ensuring a sustainable energy future, fostering holistic development and environmental protection.

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